Tim Tebow released by the Jets after one season in New York

"We have a great deal of respect for Tim Tebow," said Jets coach Rex Ryan. "Unfortunately, things did not work out the way we all had hoped. Tim is an extremely hard worker, evident by the shape he came back in this offseason. We wish him the best moving forward."

The timing of the decision will likely make it difficult for Tebow to catch on with another team after this weekend’s draft and the signing of undrafted players. The Jets had six quarterbacks on their roster after taking West Virginia quarterback Geno Smith in the second round.

The Jets acquired Tebow from the Denver Broncos for a fourth-round draft pick and cash. He completed 6 of 8 passes for 39 yards last season and rushed 32 times for 102 yards out of the Wildcat formation. His best season came with the Broncos in 2011, when he started 11 of 14 games, completing 126 of 271 passes for 1,729 yards and 12 touchdowns. He also rushed for 660 yards on 122 carries and scored six touchdowns.

In his three-year career, Tebow has started 16 of 35 games, completed 173 of 361 passes for 2,422 yards and he has an excellent touchdowns (17) to interceptions (9) ratio. He has also rushed for 989 yards in 197 carries, a 5.0 average, and 12 touchdowns.

The release of the former Heisman Trophy-winning quarterback from Florida was first reported by the New York Post.